Monetary policy refers to the use of changes in the level of government debt and interest rates to affect a country's level of economic activity.

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Monetary policy refers to the central bank's actions involving the management of interest rates and the total supply of money in circulation, typically aimed at achieving macroeconomic objectives like controlling inflation, consumption, growth, and liquidity. Changes in the level of government debt are related to fiscal policy, not monetary policy.

Monetary Policy Refers to the Use of Changes in the Level